A bare trust, also known as a simple trust, is a straightforward form of trust where the trustee holds the assets on behalf of the beneficiary until the beneficiary is entitled to receive them. This type of trust is commonly used in estate planning and administration due to its simplicity and the direct control it […]
We are proud and very excited to confirm that Elizabeth Palumbo from Kelly and Chapman’s Property Department has now conducted the firm’s first electronic conveyancing settlement using the “PEXA” platform. PEXA represents a leap forward in conveyancing offering our business greater efficiency and our clients’ greater piece of mind that settlements will occur on a […]
Key points New requirements for contracts of sale of real estate worth $2M or more entered into from 1 July 2016. All purchasers of such real estate must withhold 10 percent of the purchase price unless they are given a clearance certificate by the vendor. Vendors of such property who are not foreign residents need […]
When helping our client Purchasers, a review of the Contract of Sale and Vendor’s Statement (Section 32) by Kelly and Chapman before signing will give you an understanding of what it is that you will be signing if your are the winning bidder. Contract of Sale documents can be very complex by nature and should […]